Russia is ready to continue cooperation with OPEC and non-OPEC oil producers, Russian Energy Minister Alexander Novak told reporters on Thursday, adding that the oil market is currently in balance Continue Reading
The European Parliament has overwhelmingly approved a ban on single-use plastics such as straws, plates, cutlery and cotton-swab sticks in Europe by 2021, joining a global shift as environmentalists emphasize Continue Reading
The UK continental shelf in the North Sea has recently drawn attention with several significant asset sale deals that have seen Chevron reduce its exposure to the legacy production area Continue Reading
Europe’s economy could suffer from the refusal of European companies to work with Iran under pressure from the U.S. sanctions on Tehran, Rosneft’s chief executive Igor Sechin said at the Continue Reading
Russia’s largest oil producer Rosneft has the capacity to increase its crude oil production by the end of 2018 and will have additional capacity available in 2019, chief executive Igor Continue Reading
Italian oil major Eni cut its full-year production growth target Friday after failing to grow its upstream volumes during the third quarter due to lower-than-expected flows of natural gas. Receive Continue Reading
The European car market recorded the highest monthly decline of the last decade in September 2018, as 1.12 million vehicles were registered—343,000 less than in September 2017, according to figures Continue Reading
Oil prices fell on Thursday as Asian and European stock markets plunged in the wake of Wall Street’s biggest daily decline since 2011, with investors shedding risk in an uncertain Continue Reading
Crude oil futures prices extended yesterday’s dramatic sell-off on Wednesday morning in European trading as a sharp stock build and pledges from Saudi Arabia to sharply increase output continued to Continue Reading
The EIA said on Oct. 24, 2018 that it estimates Iranian production will be around 2.8 million barrels per day in 2019, lower than 3.8 million barrels in April, as Continue Reading
Crude oil futures rose on Wednesday after the release of U.S. crude oil inventory levels by the Energy Information Administration indicated a smaller build-up than what had been reported a Continue Reading
The mercurial nature of the oil market has flipped the mood in the past two weeks from hysterical expectations of severely reduced supply from Iran to concerns over the pace Continue Reading
Warning signs about the slowing of the global economy continue to crop up, and market jitters are taking the steam out of oil prices. U.S. corporate earnings are no longer Continue Reading
Despite an uptick in global spending on oil and gas development, the upstream recovery is much slower and shallower than in previous cycles, with current investment levels insufficient to meet Continue Reading
It is five minutes to midnight on climate change. We will have to alter our trajectory very quickly if we wish to have a good chance of limiting the global Continue Reading
The oil industry has fallen hard for digital tech, with artificial intelligence and robotics a particular focus of attraction, KPMG’s latest CEO Outlook: Oil & Gas has suggested. As much Continue Reading
Libya held a rare oil conference in the eastern city of Benghazi on Wednesday as its state oil firm NOC reached out to a region home to a parallel government Continue Reading
Tuesday’s massive sell-off in the global crude oil markets spread on Wednesday to the Middle East crude oil complex, where prices for December cash Dubai—the nearest month trading in October—plunged Continue Reading
China’s largest refiners, state-held Sinopec and China National Petroleum Corporation (CNPC), haven’t booked any crude oil cargoes from Iran for November due to fears that in doing so, they would Continue Reading
Qatar plans to increase its liquefied natural gas production capacity by 43 percent to 110 million tons annually, S&P Global Platts reports , citing the country’s Energy and Industry Minister. Continue Reading
France’s oil and gas major Total said on Tuesday that the first cargo of liquefied natural gas (LNG) from the Ichthys LNG project offshore Western Australia had left the port Continue Reading
Former Iraqi Oil Minister Thamir Ghadhban will be nominated to return to the post, sources close to the ongoing government formation process told S&P Global Platts Wednesday. Prime Minister-designate Adel Continue Reading
Saudi Arabia and Russia agreed to extend their pact to preserve oil stability, Saudi Energy Minister Khalid al-Falih said in remarks broadcast by Ekhbariya TV on Thursday. “Saudi Arabia and Continue Reading
Adil Abd al-Mahdi was confirmed as Iraq’s fifth prime minister since the Coalition Provisional Authority late Wednesday, along with 14 of 22 Cabinet ministers, with more political wrangling to come. Continue Reading
India’s steel industry will face several challenges as the nation is poised to become the next driver in regional economic growth, keynote speakers said at the Indian Steel Association’s inaugural Continue Reading
China’s LNG demand grew by a record 8 mt in 2017 and is set to expand by another record 12 mt this year, making up 50 percent of all global Continue Reading
Depleting mature fields and lack of new exploration and investment will result in Vietnam’s crude oil production declining by 10 percent every year until 2025, the state-run Vietnam Oil and Continue Reading
China National Offshore Oil Corporation, or CNOOC, and Shell International Petroleum Company Limited signed a memorandum of understanding to build an integrated petrochemical site at the Nanhai site in Huizhou, Continue Reading
While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued by massive oil decline rates and debt. Moreover, even as the companies brag about Continue Reading
(Reuters) – U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. A sign built Continue Reading
The U.S. Department of the Interior on Wednesday gave conditional approval to privately-held Hilcorp’s long-awaited oil and gas production facility in federal waters off Alaska. Hilcorp is seeking to build Continue Reading
New York’s attorney general sued Exxon Mobil Corp on Tuesday, alleging that the world’s largest oil company for years misled investors about the risks of climate change regulations on its Continue Reading
Exxon Mobil Corp has begun groundwork at a Texas refinery that would become the largest in the United States in advance of a final investment decision on the expansion, three Continue Reading
ExxonMobil has been sued by New York state’s attorney general for allegedly misleading investors over the risks that climate change regulations posed to its business. The suit claims that while Continue Reading
Summary of Weekly Petroleum Data for the week ending October 19, 2018 U.S. crude oil refinery inputs averaged 16.3 million barrels per day during the week ending October 19, 2018, Continue Reading
The U.S. shale industry may not grow as much, or at least as fast, as everyone thinks it will, according to a top industry executive. The drilling frenzy in West Continue Reading
Now this is worth knowing about. Simulations have shown that spinning turbine blades of offshore wind farms can actually slow the wind speeds of a hurricane. Imagine all those people Continue Reading
A First Nations chief has declared that no outcome from the National Energy Board’s review of the Trans Mountain expansion project will satisfy his people because they want the project Continue Reading
Volvo Cars has acquired a stake in mobile EV rapid charging company FreeWire Technologies ( earlier post ) via the Volvo Cars Tech Fund. BP’s venturing business invested $5 million Continue Reading
The United States is still the world’s largest natural gas producer, despite a marginal 2017 output increase. The United States is still the world’s largest natural gas producer, despite a Continue Reading
Canadian National Railway Co. expects to set a record for crude-by-rail shipments next year as it vies with Canadian Pacific Railway Ltd. to dominate a booming market for the alternative Continue Reading
The White House said on Wednesday President Donald Trump has appointed Neil Chatterjee, an avid supporter of subsidizing aging coal and nuclear power plants, as chairman of the Federal Energy Continue Reading
I wrote this column in Iceland, where I recently traveled on a working vacation. While in Iceland I met with an innovative energy producer whose technology could help mitigate carbon Continue Reading
Global crude steel production rose 4.4 percent to 152 million tonnes in September from the same month a year ago, figures from the World Steel Association showed on Wednesday. Crude Continue Reading
Highlights Seismograph picks up 0.4 magnitude event Preston New Road site still in testing phase Tremor strength close to current regulatory threshold for pause London — Hydraulic fracturing, commonly known Continue Reading
Expectations of the imminent arrival of imported cargoes and the inability to push sufficient methanol volumes out of Rotterdam up the Rhine is putting downward pressure on spot prices, sources Continue Reading
Russia is well placed to maintain oil production levels above 10 million b/d beyond the next decade, despite western sanctions limiting its access to technology and capital, the International Energy Continue Reading
Crude oil futures price declines extended into mid-morning trading Tuesday after US equity markets opened sharply lower. NYMEX December WTI was down $1.91 at $67.45/b and ICE December Brent was Continue Reading
Oil fell towards $75 a barrel to its lowest since late August on Wednesday, pressured by concern that demand is weakening and supply ample even as U.S. sanctions loom on Continue Reading
The American Petroleum Institute (API) reported a huge build of 9.88 million barrels of United States crude oil inventories for the week ending October 19, compared to analyst expectations that Continue Reading
